NATCHEZ, Miss., Jan. 17, 2013 /CNW/ - Mr. Robert A. Kadane, President of KFG Resources
Ltd., reported today that the Company's subsidiary, KFG Petroleum
Corporation of Natchez, MS has
staked location for the Spring Hill #10 well, at Fayette Field,
Jefferson County, Mississippi.
The reprocessed 3D seismic data has pinpointed several new
shallow features at Fayette. The
Company has staked a location (Spring Hill #10 well) due east of
the Spring Hill #2 well because the new seismic interpretation
indicates the field extends to the east. A 4100-foot test will be
drilled when weather permits. KFG owns a 100% working interest in
these wells, reverting to a 74.9% working interest after
payout.
Carthage Point, Adams County,
MS
KFG has staked location for the MacNeil #2 well at Carthage
Point. KFG has an 8% working interest in this well reverting to a
20% working interest after payout. The #1 well has excellent oil
shows in the Campbell Sand but was pinched out in the objective
Stewart "B" Sand. The #2 well will be drilled to 6300 feet and will
be started when weather permits.
The Company's common shares are listed on the TSX Venture
Exchange, Vancouver, B.C., trading
symbol "KFG".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE KFG Resources Ltd.